Damn, it feels good to be a gangster.
Posted on 02/27/2023 6:27:23 AM PST by Kaiser8408a
The Federal Reserve is retreating from its Covid-era monetary expansion. And with the retreat, US durable goods NEW ORDERS fell -4.5%% in January. The worst reading since … Covid in 2020.
A breakdown of new orders shows that while NONDEFENSE capital goods orders dropped -5.4% YoY in January, DEFENSE capital goods orders increased by 25.4% YoY.
Damn, it feels good to be a gangster.
(Excerpt) Read more at confoundedinterest.net ...
“Defense Capital Goods New Orders UP 25.4% YoY”
...and people claim that we’re dumping weapons there in the interest of protecting ‘freedom’.
So is the author implying that The FED should be increasing M2?
Exactly but what is happening now is companies are holding onto cash because they are uncertain what is going to happen because inflation is not abating. I am not going to buy durable goods if I sense a downturn, which I do. I am going to exhaust my current inventory, hold onto my cash and maximize my profits with my current inventories.
Decline in durable goods is due entirely to a pullback in orders to Boeing. Ex-Boeing, they increased. that’s why the market is bouncing upward this morning.
We have been planning for some time on buying a propane fireplace insert with install. Will pay cash. Hope to get it by May. Even paying cash still nervous about spending the $7K
Damn, it feels good to be a gangster.
And some poor fools wonder why the neo-cons are pushing us to defend one of the most corrupt countries in the world and its leader (a real clown) with almost $200 billion of our tax dollars -- that we don't have.
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